Huntington Ingalls Could Lose $1 Billion if Navy Opts to Retire One of Its 11 Aircraft Carriers

Huntington Ingalls Industries Inc., the U.S.Navy's largest shipbuilder, said it expects to complete a $4 billion contract to build a new aircraft carrier this year. But the company could lose more than $1 billion in work if the service chooses to retire one of its 11 flat tops in 2016 to meet Pentagon spending constraints.

Last year, the Navy delayed awarding the detailed design and construction contract to Huntington Ingalls for...